Automated contract administration, and you can manage it all from your phone.
Integrated data, contract negotiation metrics, and AI-powered analysis at your fingertips.
Contract edits are always tracked and visible, and never made by someone without permission.
A Non-Disclosure Agreement, or NDA, is a contract between two companies or people that wish to share information, but don’t want the person or company they’re sharing the information with to tell anyone what they learned.
There are many names for an NDA. It can also be called a Mutual Non-Disclosure Agreement, MNDA, Confidentiality Agreement, or even a Mutual Confidentiality Agreement.
Some of the key parts of these agreements are:
Defining what information is confidential.
Establishing how long the information needs to remain secret.
Clarifying who the information can be shared with and under what circumstances.
This final point requires a little more explanation. One of the key elements that these agreements define is whether one group can share confidential information with the other, or if the NDA written so that both groups can share confidential information AND protect what they’re sharing. If only one group can safely share information it’s known as a one-sided or unilateral NDA. A Mutual NDA or Mutual Confidentiality Agreement is written so that both groups can share information without worrying about it. Frequently, a Mutual NDA is the most convenient because it’s not clear if conversations will change over time.
PlainVanilla's NDA template is just what you need to get started. You can send it as is, or easily make changes depending on what your circumstances are.
A Name, Image, and Likeness (NIL) Contract is between a college athlete and a business or other organization. Generally, the business would like to use the athlete’s name, images of the athlete, or something that resembles the athlete for promotional purposes. These agreements allow the business to legally use the athlete’s NIL and allow the athlete to be compensated for the use of their NIL.
This agreement will pay the athlete for each task they do. For example, the business would pay the athlete for a social media post or an in-person appearance.
A Name, Image, and Likeness (NIL) Contract is between a college athlete and a business or other organization. Generally, the business would like to use the athlete’s name, images of the athlete, or something that resembles the athlete for promotional purposes. These agreements allow the business to legally use the athlete’s NIL and allow the athlete to be compensated for the use of their NIL.
This agreement will pay the athlete for working with the business over a period of time. For example, the business would pay the athlete monthly for using an image of the athlete.
A Confidentiality and Invention Assignment Agreement, which is also known as a Proprietary Information and Invention Assignment Agreement clarifies three things:
Confidentiality: It’s important to know what you can and can’t say when you learn something. The agreement will define what information is secret and cannot be shared.
Ownership of Inventions: This part of the contract will show which person or company owns what as part of the collaboration. Usually, the company will receive ownership in the invention and the person working with the company will receive monetary compensation.
Payment: When someone gives something up like ownership of an invention it’s important that they are compensated in some way. This agreement will set in writing how much the payment is.
Who needs one: These agreements are typically signed by an employee, consultant, or independent contractor and a company who are going to work together to create something new. The new thing can be a new product, market strategy, mathematical calculation, logo, and lots and lots of other things.
The person and the company put an agreement in place before they start working together to establish what the person can say about what they’re doing outside of the company and who owns any inventions that come from the collaboration. That way there’s no confusion and everyone is on the same page.
Why it’s important: It’s always easy to assume that things are going to go well when you start working with someone (or a company), but things happen that are unexpected. For example, if a company wants to work with a specialist on something they think will be valuable the agreed payment might be $1,000,000 or even more. If there’s no contract then the company might not pay the person if it turns out not to be valuable. Similarly, the company might share a lot of confidential information with someone to jointly create something. If that thing turns out to be amazing the person might not give it to the company if they don’t have a contract in place. Whatever the situation, it’s best to get a contract in place.
Why ours: PlainVanilla’s Confidentiality and Invention Assignment Agreement is short (a little less than 2 pages) and written to be easy to understand.